ErisX Enables ACH Transfers for Easier Account Funding
Come trade at the only U.S. based crypto exchange that offers spot and U.S based futures markets on one, cost-efficient platform! As pioneers in the crypto derivatives space, we are the only U.S. based exchange that enables individual members to trade futures on BTC and ETH. Access crypto without sacrificing security, transparency or the protection of market oversight.
Since launching in 2019, we have offered account funding for cash via wire transfer. We listened to feedback that this suited our intermediary and institutional Members but was less user-friendly for direct individual Members.
We are excited to announce that Members are now able to fund their accounts via ACH by submitting the transfer request directly from their ErisX Member Portal.
How do I fund my account via ACH?
After logging in to the ErisX Member Portal, Members can link external bank accounts and request an ACH debit by clicking on the Deposit button.
ACH requests from linked Member accounts will be processed immediately by ErisX. Once the funds are received from the Member’s external bank they will be applied to the Member’s balance and made available for trading.
Please note ACH requests after 11:30 AM ( Central Time) may not be processed by the Member’s external bank until the following day.
Below are a few frequently asked questions about how ACH transfers work.
- What is an ACH transfer?
An Automated Clearing House (ACH) transfer is an electronic transfer of funds through the banking system. The ACH network is a global, secure system used by individuals and institutions. For example, individuals use it to pay bills, and institutions use it to make direct deposit payroll for their employees.
When you request an ACH transfer, you authorize ErisX to debit your checking or savings account. The global ACH network is governed by the Rules of the National Automated Clearing House Association (NACHA).
2. Can I use either a personal or business account for an ACH transaction?
The type of account that you can use depends upon how you signed up to ErisX. Linked external accounts must be in the same name as the holder of the ErisX Clearing account. Members who have ErisX Individual accounts will need to fund from a personal bank account and Members who have ErisX Entity accounts will need to fund from a business account.
We are pleased to offer clients more funding choices by introducing ACH transfers as a convenient and cost-efficient way to fund your trading account at ErisX. For more information about the ErisX offering please visit www.ErisX.com or sign up to receive our weekly newsletter.
